Basic Economics, Fourth Edition: A Common Sense Guide to the Economy by Thomas Sowell

I read this audiobook written by Thomas Sowell and narrated by Tom Weiner from Audible.

"Economics is the study of the use of scarce resources which have alternative uses."

Read that sentence above a couple of times, it took me awhile to realize just how true and important it is. I learned from this book that government interference in a free and open market is the source of most of the world’s economic pain. I believe the world would be a much better place if everyone understood the lessons contained in this book.

Do yourself a favor, find this book and read the summary that is the last chapter of the book. You owe it to yourself and the community you live in.

From the publisher:

The fourth edition of Basic Economics is both expanded and updated. A new chapter on the history of economics itself has been added, and the implications of that history examined. A new section on the special role of corporations in the economy has been added to the chapter on government and big business, among other additions throughout the book.Basic Economics, which has now been translated into six languages, has grown so much that a large amount of material in the back of the book in previous editions has now been put online instead, so the book itself and its price will not have to expand. The central idea of Basic Economics, however, remains the same: that the fundamental facts and principles of economics do not require jargon, graphs, or equations, and can be learned in a relaxed and even enjoyable way.

I rate this book a 10 out of 10 and a must read for anyone.

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